Regions
JV Snags $90M DC-Area Portfolio
Besyata Investment Group and The Scharf Group purchased The Communities at Arbor Vista in the Washington, D.C., submarket of Adelphi, Md. The partnership plans to modernize both the amenities and units.
Manhattan’s Beekman Tower Lands $70M Refi
Meridian Capital Group arranged the 10-year CMBS loan for the 26-story Art Deco building. The property recently underwent a $24.2 million renovation to reposition it as corporate housing.
Berkadia Taps Senior Housing Lead
With nearly two decades of industry, Tim Cobb joins the firm’s D.C. office as managing director & senior housing and health care investment sales lead.
ReyLenn Properties to Open $60M Denver Community
Solana Lucent Station will be opened in anticipation of the Southwest Line Extension in Highlands Ranch, Colo., which is home to major employers such as Children’s Hospital Colorado, Skyridge Medical Center and VISA.
Cush & Wake Secures $40M Loan for Nashville-Area Community
Middleburg Real Estate Partners plans to build a 328-unit apartment property in Franklin, Tenn. Mike Ryan, Telly Fathaly and Brian Linnihan of Cushman & Wakefield’s Atlanta team originated the senior debt as well as the joint venture equity.
High Street Residential Opens Foundry Lake Street
The Class A community is 54 percent leased and 45 percent occupied. Foundry on Lake Street features 5,000 square feet of indoor restaurant space.
Raiders of the Lost Rate Hike
While Fed Chair Janet Yellen has suggested the potential for multiple rate hikes through 2018, several factors should influence her plan to be implemented with caution, argues Stepp Commercial Vice President Mark Ventre.
CBRE Arranges Sale of 160-Unit Sacramento Asset
Integrity Housing sold Alhambra at Mace Ranch in Davis, Calif., for $28.5 million. Jim Flinn, senior vice president of CBRE Affordable Housing’s Debt and Structured Finance team, secured $20.2 million in acquisition financing.
WinnCos. Eyes $19M Rehab for NJ Affordable Community
The firm plans to make significant interior and exterior upgrades to the newly acquired Bridgeton Villas Apartments, a 156-unit community in Bridgeton, N.J.
Renovated Downtown Nashville Community Trades for $27M
A Covenant Capital Group fund sold the 170-unit 500 Fifth Ave. The deal follows a $4 million renovation process the firm completed at the 56-year-old building.